MediciNova, Inc. (NASDAQ:MNOV) Short Interest Down 26.0% in April

Posted by Tristan Rich on Apr 27th, 2024

MediciNova, Inc. (NASDAQ:MNOV – Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 247,000 shares, a drop of 26.0% from the March 31st total of 333,600 shares. Based on an average daily volume of 49,400 shares, the short-interest ratio is presently 5.0 days. Approximately 0.5% of the shares of the stock are sold short.

MediciNova Stock Down 0.8 %

NASDAQ MNOV opened at $1.31 on Friday. The business has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.57. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.66.

MediciNova (NASDAQ:MNOV – Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. On average, analysts predict that MediciNova will post -0.23 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of MediciNova in a report on Sunday, April 21st. They issued a “hold” rating for the company.

Check Out Our Latest Stock Analysis on MediciNova

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is owned by hedge funds and other institutional investors.

MediciNova Company Profile

(Get Free Report)

MediciNova, Inc, a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, and substance dependence and addiction, as well as prevention of acute respiratory distress syndrome, and long COVID.